Morning Market Update, Updated 15 December 2016

- 15 December 2016

Good morning team, Chris Conway your Head of Research here with your First Look

The Aussie market is poised to open lower later this morning, following Wall Street down after the US Federal Reserve hiked its benchmark interest rate and signalled a more aggressive pattern of increases in 2017.

SPI futures are down 31 points, at 5552.

On Wall Street, shares fell back from a recent run of record gains in the wake of the widely anticipated move by the US Federal Reserve to lift its benchmark interest rate by a quarter of one per cent to a range of 0.5 to 0.75 per cent — its first move in a year.

The Fed also signalled three likely hikes in 2017, up from two previously.

In local companies news, explosives manufacturer Orica will hold its annual general meeting on Thursday.

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